Jupiter drives stablecoin card spending to record $1B in July

Stablecoin card spending crossed the billion-dollar threshold in July for the first time, reaching $1.03 billion across the industry. That’s a 16% jump from June and a 200% increase compared to the same month last year, with more than 10 million individual purchases driving the milestone. Jupiter Global, the Solana-based platform that grew out of the popular Jupiter decentralized exchange aggregator, sits at the center of this surge. Its USDC-backed Visa debit card has quickly become one of the most visible bridges between on-chain stablecoin balances and real-world spending. What Jupiter built and why it’s working The Jupiter Card launched earlier this year with a straightforward pitch: let people spend their USDC holdings anywhere Visa is accepted, without needing to off-ramp through a traditional bank first. That means access to over 150 million merchants globally, spanning more than 60 countries. The onboarding incentives were aggressive. A 2% baseline cashback rate, with the potential to hit 4% through referrals, gave early adopters a tangible reason to load up their cards. Those promotional tiers ran through June before transitioning to standard reward levels. Even after the ...